Bioventus Inc. announced it has exercised its call option to acquire CartiHeal Ltd., excluding the ownership interest already owned by Bioventus, for approximately $315 million, according to a company press release.
The release noted the deal has an additional approximately $135 million payable contingent upon the achievement of $100 million in trailing 12-month sales. This decision follows the FDA premarket approval of CartiHeal’s Agili-C implant for treatment of ICRS grade 3 or above knee-joint surface lesions.
The transaction is expected to close during the second quarter of 2022